New Delhi: Tata Coffee on Thursday said that it has got board approval capacity expansion of its subsidiary Tata Coffee Vietnam Company Ltd, Vietnam at an investment of Rs 450 crore.
"In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 (“Listing Regulations”), we would like to notify you that, the Board of Directors of the Company, at its meeting held on November 30, 2023, has approved the setting up of an additional 5500 Metric Tonnes (MT) Freeze-Dried Coffee facility in Vietnam. This facility is being undertaken by Tata Coffee Vietnam Company Ltd, a wholly-owned subsidiary of the Company," the company said in a BSE filing.
The board has approved the setting up of an additional 5,500-tonne freeze-dried coffee facility in Vietnam from the existing capacity of 5,000 metric tonnes with an investment of USD 53.3 million (approximately Rs 450 crore), the company told BSE.
The investment funds will be sourced from internal accruals and bank financing, Tata Coffee added. About 96 percent of the total capacity is under utilisation and the Period within which the proposed additional capacity is to be added is next two years.
